Angolan and foreign entrepreneurs invest in Angola’s industrial sector

4 July 2017

Seven private investment contracts totalling US$38.18 million were signed in Luanda by the Ministry of Industry and national and foreign businessmen accounting for US$24.89 million or 65.19% of the total Angolan capital.

These new projects, whose contracts were signed by representatives of the investment companies and the director of the Technical Unit for Support to Private Investment (UTIP), José Goma Sala, will create 577 new direct jobs, of which 535 for Angolan workers, according to Angolan news agency Angop.

These seven investment projects are of an industrial nature and are for the production of paints, sheets for metal roofs, coffee processing, food production, namely dairy products and alcoholic beverages.

The companies involved are Neuce Indústria de Tintas de Angola, Angonabeiro – Comércio e Indústria de Café, Heran General Trading Industria, Betalice, Every Where Angola and Nacional Distillers.

The Ministry of Industry reported that these projects are in line with the new private investment policy and respond to the various objectives identified in the 2013-2017 National Development Plan, ensuring the promotion of manufacturing, job promotion and qualification of the workforce, efficient supply of the domestic market and facilitation of the substitution of imports. (macauhub)